Following ByBit’s $1.4B hack, the crypto market is experiencing significant corrections, reflecting a bearish momentum. As a result, investors are exploring potential bear market outlooks, especially since more than $500 million has been liquidated across the cryptocurrency market since February 21. Let’s uncover the top three altcoins to sell as bear market fears continue to escalate.
Altcoins to Sell: Ethereum (ETH)
Ethereum (ETH) experienced a notable pullback after hitting rejection at $2,750. The cryptocurrency market valuation dropped after Bybit suffered an extensive security breach which led to the loss of $1.44 billion worth of ETH.
The attacker successfully penetrated one of Bybit wallets to steal roughly $1.44 billion worth of assets based on the Ethereum platform. The ETH price is trading at $2,723, with a 4% decrease in the past 24 hours.
The declaration caused Ethereum’s market value to fall by 6% through negative market sentiment. The Bybit head of operations confirmed that the platform received bridge loans to fulfill the growing number of withdrawal requests. Ethereum stands among others for a possible crypto token to sell following increased market instability that suggests an upcoming bear market.
Raydium (RAY) Faces Strong Selling Pressure
Raydium price has dipped 30% after rumors of Pump.fun launching its own AMM. RAY price is currently trading at $3.08, with a strong decrease making it among the crypto to sell as fears of a bear market grip the crypto market. Raydium price is among the top losers in today’s market.
https://t.co/VQzC7YIgXV is testing its own AMM, $RAY plunged 23% today @pumpdotfun is exploring the development of its own AMM, which could compete with existing DEXs in the Solana ecosystem. Following this news, Raydium ( $RAY)—one of the largest DEXs on Solana—fell 23%… pic.twitter.com/TVthlGX2uC
— Followin (@followin_io) February 24, 2025
Raydium (RAY) experiences ongoing selling activity, which results in severe price reductions. The RAY price has been struggling to maintain support, with recent trading volumes indicating reduced demand.
Amid worsening market conditions, analysts predict further downside potential, making it a risky asset for traders. If the bears get more power, the RAY price could decrease to $2 mark. The Relative Strength index on the 4-hour chart is currently at 20, indicating selling pressure.
Source: TradingView
SPX6900
SPX6900 is another altcoin to sell that is under pressure after falling 6% in the past 24 hours. Currently, the crypto meme token trades at $0.6920. The SPX slipped below a critical support level, signaling potential further declines. Analysts warn that a drop below $0.58 could push the price toward $0.20.
The movement of market indicators shows decreasing strength because volatility increases as investors begin expressing negative attitudes toward the market.
The bearish outlook continues to grow because institutional investors are decreasing their investments. The rising pressure for sellers makes it unlikely for SPX6900 to bounce back in the upcoming period.
Bottom Line
The cryptocurrency market volatility increased after Bybit suffered a hack, and many investors faced liquidation losses, which resulted in stronger bearish expectations. Traders initiate increased sales of cryptos Ehereum, RAY, and SPX because they want to minimize their losses.
The post 3 Altcoins to Sell As Fears of Bear Market Grip Crypto Market appeared first on CoinGape.
